{"id":564153,"date":"2021-08-11T13:57:26","date_gmt":"2021-08-11T13:57:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/11\/earnings-watch-beltone-nbk-egypt-credit-agricole-egypt-gsk-obour-land-arabian-cement\/"},"modified":"2021-08-11T13:57:26","modified_gmt":"2021-08-11T13:57:26","slug":"earnings-watch-beltone-nbk-egypt-credit-agricole-egypt-gsk-obour-land-arabian-cement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/11\/earnings-watch-beltone-nbk-egypt-credit-agricole-egypt-gsk-obour-land-arabian-cement\/","title":{"rendered":"Earnings watch: Beltone, NBK Egypt, Credit Agricole Egypt, GSK, Obour Land, Arabian Cement"},"content":{"rendered":"

<\/a> EARNINGS WATCH-<\/strong> Beltone Financial reported net income of EGP 4.7 mn in 2Q2021<\/strong>, up from a loss of EGP 12.1 mn in 2Q2020 and net income of almost EGP 3.8 mn<\/a> in the first quarter of this year, according to an earnings report (pdf<\/a>). The company\u2019s revenues reached EGP 95.9 mn in 2Q2021, rising considerably from 2Q2020 revenues of EGP 62.09 mn.<\/p>\n

NBK Egypt reported declining net profits this quarter reaching EGP 290.4 mn<\/strong>, down from EGP 350.7 mn during 2Q2020, according to the bank\u2019s earnings release (pdf)<\/a>. The company has also reported revenues of EGP 796.2 mn over the quarter, down from EGP 834.90 mn in 2Q2020.<\/p>\n

Credit Agricole Egypt saw its net income grow to<\/strong> EGP 388.6 mn during 2Q2021,<\/strong> up from EGP 261.1 mn in 2Q2020 according to its consolidated financials (pdf)<\/a>.<\/p>\n

GlaxsoSmithKline\u2019s Egypt unit saw net profit contract<\/strong> to EGP 18.0 mn in 2Q2021<\/strong>, down from EGP 79.6 mn in the first quarter of 2020, according to an EGX disclosure (pdf)<\/a>. Revenues at the company reached EGP 435.4 mn in 2Q2021, down from EGP 507.8 in 2Q2020.<\/p>\n

Obour Land net profits reached EGP 74.2 mn in 2Q2021<\/strong>, up 3% y-o-y from the EGP 72 mn <\/strong>the company reported in 2Q2020<\/strong>, according to a Obour Land earnings release (pdf)<\/a>. Revenues at the company contracted 4% y-o-y to EGP 639.2 mn over the quarter, down from EGP 666.2 mn in 2Q2020.<\/p>\n

Arabian Cement losses narrowed to EGP 17.0 mn in 2Q2021 <\/strong>from EGP 21.5 mn in 2Q2020, according toa company statement (pdf)<\/a>. The company\u2019s sales dropped to EGP 532.4 mn in 2Q2021, from EGP 621.1 mn in 2Q2020.<\/p>\n

MARKET WATCH- <\/strong><\/p>\n

The EGX30 rose 0.3% at today\u2019s close<\/strong> on turnover of EGP 1.74 bn (24% above the 90-day average). Local investors were net buyers. The index is up 0.4% YTD.<\/p>\n

In the green: <\/strong>Heliopolis Housing (+3.0%), Fawry (+1.6%) and Speed Medical (+1.4%).<\/p>\n

In the red: <\/strong>Sidi Kerir Petrochemicals (-4.5%), Raya Holding (-3.1%) and Ezz Steel (-2.3%).<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Beltone Financial reported net income of EGP 4.7 mn in 2Q2021, up from a loss of EGP 12.1 mn in 2Q2020 and net income of almost EGP 3.8 mn in the first quarter of this year, according to an earnings report (pdf). The company\u2019s revenues reached EGP 95.9 mn in 2Q2021, rising considerably […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7219],"tags":[1236,205,68,633,1076,642,806,723],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564153","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-arabian-cement","tag-credit-agricole","tag-egx","tag-enterprisepm","tag-glaxosmithkline","tag-go-with-the-flow","tag-nbk-egypt","tag-obour-land","wpautop","entry"],"acf":{"mongo_id":"11555abf-8868-42a8-92de-735f7b96dac2","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[564145],"teaser":"","voice_url":""},"yoast_head":"\nEarnings watch: Beltone, NBK Egypt, Credit Agricole Egypt, GSK, Obour Land, Arabian Cement - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/11\/earnings-watch-beltone-nbk-egypt-credit-agricole-egypt-gsk-obour-land-arabian-cement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Beltone, NBK Egypt, Credit Agricole Egypt, GSK, Obour Land, Arabian Cement\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Beltone Financial reported net income of EGP 4.7 mn in 2Q2021, up from a loss of EGP 12.1 mn in 2Q2020 and net income of almost EGP 3.8 mn in the first quarter of this year, according to an earnings report (pdf). 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The company's revenues inched down to EGP 242.5 mn over the course of 1H2020 from reported revenues of EGP 242.7 mn in 1H2019,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":564174,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/ibnsina-net-income-up-45-in-2q2021\/","url_meta":{"origin":564153,"position":2},"title":"Ibnsina net income up 45% in 2Q2021","author":"enterpriseam admin","date":"15 August 2021","format":false,"excerpt":"EARNINGS WATCH- Ibnsina Pharma saw its net income rise more than 45% to EGP 56.3 mn in 2Q2021, compared to EGP 38.7 mn in the same period last year, according to the company\u2019s earnings release (pdf). The bottom-line growth was fuelled by a 21% rise in revenues, which reached almost\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558312,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/emaar-misr-net-income-doubles-in-2q2021\/","url_meta":{"origin":564153,"position":3},"title":"Emaar Misr net income doubles in 2Q2021","author":"enterpriseam admin","date":"4 August 2021","format":false,"excerpt":"Emaar Misr\u2019s net income almost doubled in 2Q2021 to EGP 801.1 mn, up from EGP 409 mn in the same period last year, according to the real estate developer\u2019s latest earnings statement (pdf). The hike came as revenues almost tripled to reach EGP 2.24 bn, up from EGP 795.4 mn\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558508,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/gb-auto-net-income-triples-in-2q-off-of-higher-revenues\/","url_meta":{"origin":564153,"position":4},"title":"GB Auto net income triples in 2Q off of higher revenues","author":"enterpriseam admin","date":"15 August 2021","format":false,"excerpt":"GB Auto\u2019s net income more than tripled to EGP 374.3 mn in 2Q2021, compared to EGP 115.8 mn in the same period last year, the company said in an earnings release(pdf). 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